15 Best-Paying Jobs in Property-Casualty Insurers | 2022

best-paying-jobs-in-property-and-casualty-insurers
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Ever wonder about the best-paying property-casualty insurer jobs? Look no further, we’ve compiled the 15 best paying property-casualty insurers’ jobs.

You can work in the insurance industry in a variety of ways depending on the type of insurance you want to cover.

Join us as we unravel the top 15 best-paying jobs in property-casualty insurance companies in the United States.

Who is a property-Casualty Insurer?

Property-casualty (P&C) insurers provide asset coverage and liability insurance for accidents, injuries, and property damage to others or their property.

Also, auto insurance, house insurance, marine insurance, and professional liability insurance are all covered by P&C insurers.

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How Does Property-Casualty Insurer Work?

Customers can purchase insurance for risks up to a specified coverage limit from property-casualty insurers for insurance premiums. Insurance premiums are monetary payments made by customers for insurance coverage.

When determining the amount of insurance premium to charge, an insurer will typically consider the possibility of the client filing a claim and the potential size of the claim.

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What are the Property and Casualty Insurer Jobs Responsibilities?

  • Have a successful sales-based marketing strategy such as cold calling, prospecting, networking, and more to identify and secure potential clients.
  • Meet with existing, new, and prospective policyholders and actively listen to their needs to properly assess their circumstances and financial statuses before proposing ideal plan options.
  • Assist existing, new, and potential clients with filling out the papers and adhering to insurance policy requirements, as well as facilitating the insurance claims procedure, which may entail inspecting physical premises to assess hazards.
  •  Report progress with monthly goals, keep accurate customer records, bookkeeping logs, and insurance sales databases.

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What are the Property-Casualty Insurers Jobs Qualifications?

  • Candidates must have or be willing to get an appropriate P&C insurance license and maintain it.
  • High school diploma/GED or similar is necessary; also, bachelor’s degree is desirable.
  • It’s good if you know how to use sales and accounting software.
  • Strong computer abilities, also, Microsoft Office suite knowledge are necessary.

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15 Best-Paying Jobs in Property – Casualty Insurer

Below is the list of 15 best-paying jobs in property and casualty insurer.

#1. Consulting Actuary

Salary range: $79,000-$208,000

A consultant actuary advises customers on accounting and risk assessment. You can work as a consulting actuary for a large consulting firm or as a freelancer.

Also, your responsibilities include gathering and analyzing data and offering a solution to the organization or customer with whom you are consulting.

#2. Automotive Finance and Insurer Manager

Salary range: $94,500-$140,500

A finance and insurer manager, often known as an F&I manager, works in a dealership’s finance department. You offer each consumer help with their transaction.

More so, you will discuss the vehicle’s sale with the customer, including the purchase price, taxes, and contract terms.

More so, as an F&I manager, you will also explain the customer’s payment alternatives and insurance obligations based on the finance arrangement. Administrative responsibilities may be assigned to an automotive finance and insurer manager.

Also, collecting payments, concluding arrangements with lenders, closing off completed or canceled contracts, and filing all paperwork linked to vehicle sales are among these responsibilities.

#3. Underwriting Manager

Salary range: $82,500-$124,000

Underwriting managers oversee the underwriting department’s daily operations and administrative tasks, usually under the supervision of a department head or director.

Similarly, helping underwriters examine applications, implementing suitable screening methods, and developing new methodologies and models to assess the financial risk that your organization assumes in its dealings with customers are all part of your responsibilities.

Also, as the manager, you guarantee your staff achieves its objectives. On behalf of the department, you may also provide customer service.

#4. Casualty Underwriter

Salary range: $62,000-$120,000

A casualty underwriter evaluates commercial and personal insurance policy applications. Before an insurance company will issue a policy, casualty underwriters must estimate the risk exposure to the company for an application.

To verify that premiums can be met, they analyze property statistics and investigate the applicant’s background, financial situation, and employment.

Also, they assess the risks of accepting applications and approve claim and premium amounts. They are also in charge of monitoring and evaluating current policy.

#5. Final Expense Agent

Salary range: $100,000-$116,000

Your duty as a last expense agent is to market life insurance plans that cover the deceased’s legal, funeral, and immediate household expenditures.

These packages usually run from $5,000 to $25,000, and your company wants to see as many sales as possible of your product.

You pursue leads, contact potential clients, evaluate expected expenses in a specific region, and collaborate with the agency’s marketers to make these sales.

Hence, final expenditure agents also devote time to researching the market, analyzing the plans, and evaluating which plans are most likely to appeal to a particular client.

#6. Insurer Territory Manager

Salary range: $32,000-$80,000

Insurer territory manager, supervise, and manage all insurers’ policy.

#7. Actuarial Intern

Salary range: $31,000-$90,000

In an insurance firm or other corporate setting, an actuarial intern assists junior and senior level actuaries. Your responsibilities as an actuarial intern include gathering data, analyzing risk, and preparing reports.

Also, As an actuarial intern, you’ll develop mathematical models and predicting the likelihood and risk of future events.

Also, your internship will provide you the chance to work with actuarial project teams, attend workshops, study a range of approaches, and put your technical abilities to the test.

#8. Actuarial Trainee

Salary range: $39,000-$90,500

An actuarial trainee is an entry-level position in actuarial science. An actuary does financial risk assessment for firms, particularly insurance companies.

By studying current market trends, these professionals provide financial advice and forecast future outcomes. While learning the trade, actuarial trainees assist actuaries.

Your principal responsibilities as an actuarial trainee are to assist your firm’s actuaries in generating and delivering financial advisement reports.

You may also assist in the analysis of financial data and industry trends, the generation of projections using statistical computer programs, the assessment of reports to ensure accuracy, and the presentation of findings to management or clients.

#9. Actuarial Analyst

Salary range: $62,500-$94,500

Insurance firms hire actuarial analysts to estimate the likelihood of accidents, injuries, product failures, and deaths in specific situations.

You’ll be calculating the probable expenses of these events in this work. Insurance firms can use this information to develop policies and give pricing values.

Strong computer skills, extensive research ability, and arithmetic fluency are also required for this position.

#10. Production Underwriter

Salary range: $41,000-$100,000

Production underwriters are an important part of an insurance company’s commercial property sales and marketing department.

You will travel to several insurance companies in this capacity to build connections with agents and promote your company’s products and services.

Once you’ve signed a contract with an agency, you’ll collaborate with the underwriting department to assess the financial risk of applicants who come in through that agency and determine if they’re eligible for coverage.

Also, loss of history reports, credit checks, and independent inspections are frequently required. Other responsibilities may include setting your company’s underwriting rules and training new employees.

#11. Health Actuary

Salary range: $43,000-$113,000

This professional analyzes current and new legislation as a health actuary to ensure your organization complies with all legal rules.

#12. General Adjuster

Salary range: $43,000-$114,000

A general adjuster is a property and casualty insurance professional who assesses accidents in order to determine the insurer’s financial liability.

Your responsibilities as a general adjuster concentrate on investigating property or physical damage related to insurance claims.

You evaluate the incident’s cause, the degree of the damage, and the repair costs.

To completely investigate the claims, you may need to undertake interviews with law enforcement, medical professionals, and eyewitnesses.

Investigative research experience and interpersonal abilities are also required for this position.

#13. Commercial Real Estate Underwriter

Salary range: $54,000-$110,000

A commercial real estate underwriter examines loan requests for commercial buildings and projects. Their responsibilities include writing reports that assess the risk or potential loss associated with proposals and suggesting contingencies to account for unforeseen events.

Determining a borrower’s creditworthiness using data such as their job and credit history, and recommending any adjustments to the loan coverage are among their responsibilities.

#14. Property Underwriter

Salary range: $56,000-$106,000

A property underwriter is to calculate the insurance premium funds and coverage quantities required for real estate, automobiles, and boats.

Also, As a property underwriter, you’ll screen applications and assess the risk associated with a property based on characteristics like borrower claims history, loan amounts, and environmental conditions.

A bachelor’s degree in business, finance, or a similar discipline, as well as excellent analytical skills, is often required for this position.

#15. Field Underwriter

Salary range: $75,000-$102,000

Field underwriters inspect the property listed in insurance applications to determine whether their employer should approve the application and provide coverage for the home, building car, or other property.

In this role, your job duties include reviewing each application to ensure it is complete, running a credit check on the applicant, contacting the applicant to confirm the data submitted, then setting up a time to travel to the applicant’s location to evaluate the items in the application.

Also, You must inspect the property thoroughly, documenting all of your findings, to make an informed recommendation to the company for approving or denying the request.

Once you have completed your inspection, you forward your information to the agent handling the applicant’s file to be processed.

Conclusion

Property-casualty (P&C) insurers provide asset coverage and liability insurance for accidents, injuries, and property damage to others or their property.

However, when property and casualty insurers sell coverage to a customer, they must determine an insurance premium the consumer will pay based on the customer’s riskiness, much like other insurers.

When determining the amount of insurance premium to charge, an insurer will typically consider the possibility of the client filing a claim and the potential size of the claim.

FAQs

Who is a property Casualty Insurer?

Property-casualty (P&C) insurers provide asset coverage and liability insurance for accidents, injuries, and property damage to others or their property.

What insurance agent makes the most money?

While there are various types of insurance (ranging from vehicle insurance to health insurance), selling life insurance is the most lucrative business in the industry.

What are the qualifications for Property and Casualty Insurers Jobs

  1. Candidates must have or be willing to get an appropriate P&C insurance license and maintain it.
  2. High school diploma/GED or similar is necessary; also, bachelor’s degree is desirable.
  3. It’s good if you know how to use sales and accounting software.
  4. Strong computer abilities, also, Microsoft Office suite knowledge are necessary.

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